Egypt's Exports of Pharmaceuticals Jump 30% to $685 Million

The value of Egyptian medical industries exports increased by 30% last year to reach $685 million, compared to $529 million in 2020.

The Export Council for Medical Industries stated that this increase is a boom in the medical industries sectors, which include human and veterinary medicines, supplies, medical devices and cosmetics.

He stated that December 2021 witnessed a significant increase in medical exports, reaching $83 million, compared to $58 million in December 2020, with a growth rate of 44%.

Egyptian exports of human and veterinary medicines grew by 30% to reach $277 million in 2021, compared to $217 million in 2020.

Cosmetics exports increased by about $311 million in 2021, compared to $223 million in 2020, witnessing an increase of about 39%.

The medical supplies and devices sector achieved an increase of 10% during the past year to record about $97 million, compared to $89 million in 2020.

The council indicated that at the end of last month, it honored a number of medical companies in the human and veterinary medicine sector for the increase in the value of their exports, the percentage of their exports and the number of targeted countries.

The Council pointed out that during the past year, it organized many activities within the framework of the "Together for Export" initiative, which was launched by the Council in 2020 to increase exports of the three medical industries sectors, which the Export Council started since February 2021 by organizing workshops and conferences for companies of medical supplies and devices to see how those products can reach their potential. African market.

He noted that a workshop was organized last May for pharmaceutical companies to review the strategy of how to increase Egyptian drug exports to African countries, which are considered one of the most important target markets for these sectors during the coming period.

The Export Council, in coordination with the Export Development Fund, organized an expanded conference for pharmaceutical companies to review the new program to return the export burdens obtained by pharmaceutical companies for the first time and focus on the most important advantages offered by the new program to stimulate companies to increase their exports and increase their competitiveness in the target markets.